Comvest Credit Partners Announces Investment in Vintage Stock, Inc., a Subsidiary of Live Ventures Incorporated
June 25 2018 - 11:29AM
Comvest Credit Partners (“Comvest”) has acted as Administrative
Agent and lender in providing a $24.0 million Senior Term Loan (the
“Financing”) to Vintage Stock Inc. (“Vintage Stock” or the
“Company”), a discount specialty entertainment retailer and
subsidiary of Live Ventures Incorporated (NASDAQ:LIVE). The
Financing was used primarily to refinance/paydown certain existing
debt and to fund working capital growth.
“We are excited to partner with Comvest. This Financing will
strengthen Vintage Stock’s position as one of America’s largest,
award-winning entertainment retailers,” said Jon Isaac, President
and CEO of Live Ventures Incorporated, a publicly-traded holding
company and the parent company of Vintage Stock.
“The Company’s ability to produce consistent results in an
evolving retail environment over the past several years is a
testament to its strong management team and operations. We
look forward to a long relationship with Vintage Stock,” said Jason
Gelberd, Partner at Comvest.
About Vintage Stock, Inc.:
Vintage Stock is an award-winning entertainment retailer,
selling new and preowned movies, classic and current generation
video games and systems, music on CD & LP, collectible comics,
books, toys, and more. Vintage Stock, through its stores and
website, ships product worldwide directly to the customer’s
doorstep. For more information, please visit their website.
About Comvest Credit Partners:
Comvest Credit Partners, through affiliated private funds,
focuses on providing flexible financing solutions to middle-market
companies. We provide senior secured, unitranche, second lien, and
mezzanine capital as well as equity co-investments. We lend to
sponsored and non-sponsored companies, in support of refinancings,
growth capital, acquisitions, buyouts, and recapitalizations.
Credit facilities typically range from $20 million to $200 million
for companies with revenues greater than $15 million. For
more information, please visit our website.
About Comvest Partners:
Comvest Partners is a private investment firm providing equity
and debt to middle-market companies across the U.S. Since its
founding in 2000, Comvest has invested over $3.3 billion in over
165 companies. Today, Comvest’s funds have $3.1 billion of assets
under management. Through our extensive capital resources and broad
network of industry relationships, we offer our companies financial
sponsorship, critical strategic and operational support, and
business development assistance. For more information, please
visit our website.
For more information:Jason Gelberd, Comvest –
561-727-1860, j.gelberd@comvest.com
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